S&P 500 - Triple Screen 'Technical Analysis' - Pullback to Channel - Week 4 of September 2014.

S&P 500 - End of  Month Chart (EOM) - Channel analyzing Data from mid 2009, onward - as on 19 Sept'14

S&P 500 - End of  Week Chart (EOW) - Channel analyzing Data from Aug'2011 onward - as on 19 Sept'14

S&P 500 - End of  Day Chart (EOD) -  Channel analyzing Data from Jan'14, onward - as on 19 Sept'14

Learning from last Week:  (click here for the previous post)

Patterns:

• Long Term Bullish Engulfing becoming a 3 outside up, is an option by month end - see the last 3 Month candles #M1.
• Pullback of Price to EOD channel bottom #D1 - happens as studied.

Support & Resistance:

• Bulls take support near the 13 SMA on the EOW #W1.
• After a new ATH, bulls sent back from the EOD channel bottom #D1.

Moving Averages:  

• 5 EMA and 13 SMA, cross Bullishly on the EOD #D1.

Indicators:

• RSI 13 meanders in the 60s #W2.
• TSI continues holding, above its crucial Fibonacci level #M2.

Wrap:

Bears lose ground as Index pulls up to channel bottom #D1.
Bulls take off from support at 13 SMA (EOW) as studied and make a new ATH #W1.

Looking forward into this Week:

Patterns:

• Pull back (Study Links here, here or elsewhere) of Price to EOD channel bottom #D1 - to be watched to assess Bull / Bear strength.
• Bullish Engulfing on long term charts can evolve into a 3 outside up (Study Links here, here or elsewhere) - to be watched for until month end #M1.

Support & Resistance: 

• EOD channel Bottom #D1 and the ATH, are resistances.
• The 13 SMA on the EOW (1976) is the Support Bulls would want to defend #W1.

Moving Averages:

• A slip below the 5 EMA on the EOW(1995) is what Bulls would want to avoid now #W1.

Indicators:

• STS holding in the over bought, works for the Bulls #D2.

Wrap:

Bulls should look to defend the 5 EMA on the EOW and make new ATHs #D1.
Bears would try to complete the Pull back and continue with the fall #D1.